Will The U.S. Push Venezuela Into The Abyss?

Venezuela’s President Nicolas Maduro claimed victory in a low-turnout election that is widely viewed as rigged, raising the threat of more painful sanctions from the United States. But, in a bit of irony, Venezuela’s economy is in such terrible shape, and its oil production falling so fast, that Washington might be afraid of inflicting too much pain on the South American nation. Maduro won 68 percent of the vote, but turnout was a fraction of previous elections as large segments of the opposition boycotted the election. The Lima Group, a group of 14 countries in the Americas, stated that it would not recognize the election results and the members said they would downgrade diplomatic relations with Venezuela in response to the sham vote. Now, Washington is considering its next move to isolate Maduro, which could have massive ramifications for the oil market. “Further starved of funds from the likely […]